Rob McCord
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Rob McCord (born March 5, 1959) is the former Democratic Treasurer of Pennsylvania. He was first elected in 2008, and took office as the commonwealth's 45th treasurer on January 20, 2009. He won re-election on November 6, 2012.[1]
McCord resigned effective January 30, 2015, following a federal investigation into campaign finance violations. Investigators found that McCord pressured two potential contributors to his failed gubernatorial run by tying their donations to continued business with state offices. In announcing his resignation, McCord admitted that he was guilty of violating campaign finance laws.[2][3]
Biography
Prior to his election, Treasurer McCord co-founded the Eastern Technology Fund and served as co-founder and managing director of Pennsylvania Early Stage Partners, a family of venture funds that invested in early-stage life-science and information technology firms. From 1994 through 1998, McCord worked as a senior executive at Safeguard Scientifics, one of the first venture incubators of its kind, where he helped Safeguard earn an annual return on capital of more than 50 percent per year. In addition to his work as a venture capitalist, from 1996 through 2007, McCord led the Eastern Technology Council, a successful trade association that served hundreds of fast-growing and innovative companies and thousands of entrepreneurs.
Earlier in his career, McCord worked on Capitol Hill for nearly a decade, where he specialized in budget and technology issues. He also served as the CEO of the bipartisan Congressional Institute for the Future, a think tank co-founded by former U.S. Senators Al Gore and John Heinz."[4]
Education
- AB in economics and history, Harvard University
- MBA, Wharton School, University of Pennsylvania
Political career
Pennsylvania Treasurer (2009 - 2015)
McCord first won election to the office in November 2008 and won re-election in November 2012. He served in the office until his resignation on January 30, 2015.
The "paramount duty" of the Pennsylvania Treasurer is to safeguard the Commonwealth's financial assets, which total more than $120 billion of public monies.[5] The office manages several programs in order to better serve the financial needs of Pennsylvanians. The Better Choice Program provides a less costly alternative to traditional payday lenders, while the 529 College Savings Program eases the burden of paying for college. The INVEST program provides flexible and secure investing for local governments and non profit organizations, offering investment pools for both long- and short-term needs.
The Treasurer has specific duties in addition to the oversight of the department:
- serves as Chair of the Board of Finance and Revenue, which selects banks to serve as depositories for state money
- sets interest rates paid on commonwealth deposits
- hears and decides state tax appeals[4]
Elections
2014
McCord ran for election to the office of Governor of Pennsylvania but failed to win the Democratic nomination in the primary.
In November 2012, McCord was named as a potential 2014 candidate for governor.[6] He took the first step towards entering the race on June 11, 2013, when he filed paperwork to create the "McCord for Governor" PAC in order to raise campaign contributions for the race, and officially declared on September 24, 2013.[7][3]
Results
MCcCord lost the primary to Tom Wolf.
| Governor of Pennsylvania, Democratic Primary, 2014 | ||||
|---|---|---|---|---|
| Candidate | Vote % | Votes | ||
 Tom Wolf |
57.9% | 488,917 | ||
| Allyson Schwartz | 17.6% | 149,027 | ||
| Rob McCord | 16.8% | 142,311 | ||
| Kate McGinty | 7.7% | 64,754 | ||
| Total Votes | 845,009 | |||
| Election results via Pennsylvania Department of State. | ||||
Issues
Public Safety
McCord's campaign website outlined his stance on gun control and public safety:
| “ |
Pennsylvanians should feel safe in their homes and in their communities, yet the trafficking of illegal guns, budget cuts that have decimated or eliminated municipal police forces, and ineffective programs to treat nonviolent offenders who are paroled have made our streets unsafe. Clearly, the “get tough on crime” approach has not worked. What’s more, it has led to skyrocketing costs, which are burdening taxpayers. It’s time to “get smart on crime” and to give law enforcement personnel the tools and information they need to crack down on illegal activity. As governor, McCord will:
|
” |
Endorsements
2012
McCord won re-election in 2012. He was unopposed in the April 24 primary and defeated two challengers in the general election on November 6, 2012: Diana Irey Vaughan (R) and Patricia Fryman (L).[11]
| Pennsylvania Treasurer General Election, 2012 | ||||
|---|---|---|---|---|
| Party | Candidate | Vote % | Votes | |
| Democratic | Rob McCord Incumbent |
52.5% | 2,872,344 | |
| Republican | Diana Irey Vaughan | 44% | 2,405,654 | |
| Libertarian | Patricia Fryman | 3.5% | 190,406 | |
| Total Votes | 5,468,404 | |||
| Election results via Pennsylvania Department of State | ||||
2008
General
On November 4, 2008, McCord defeated Republican Tom Ellis and Libertarian Berlie Etzel to become Pennsylvania Treasurer.[12]
| Pennsylvania State Treasurer, 2008 | ||||
|---|---|---|---|---|
| Party | Candidate | Vote % | Votes | |
| Democratic | Rob McCord |
55% | 3,104,242 | |
| Republican | Tom Ellis | 42.9% | 2,422,608 | |
| Libertarian | Berlie Etzel | 2.1% | 119,748 | |
| Total Votes | 5,646,598 | |||
Primary
On April 22, 2008, McCord defeated three opponents to win the Democratic primary.[13]
| Pennsylvania State Treasurer Democratic Primary, 2008 | ||
|---|---|---|
| Candidate | Vote % | Votes |
| Rob McCord |
43.2% | 783,675 |
| John F. Cordisco | 26% | 472,027 |
| Jennifer L. Mann | 24.3% | 441,745 |
| Dennis Morrison-Wesley | 6.5% | 118,696 |
| Total Votes | 1,816,143 | |
Campaign finance summary
Note: The finance data shown here comes from the disclosures required of candidates and parties. Depending on the election or state, this may represent only a portion of all the funds spent on their behalf. Satellite spending groups may or may not have expended funds related to the candidate or politician on whose page you are reading this disclaimer. Campaign finance data from elections may be incomplete. For elections to federal offices, complete data can be found at the FEC website. Click here for more on federal campaign finance law and here for more on state campaign finance law.
Recent news
The link below is to the most recent stories in a Google news search for "Rob + McCord + Pennsylvania + Treasurer"
- All stories may not be relevant to this state official due to the nature of the search engine.
Personal
Note: Please contact us if the personal information below requires an update.
McCord currently lives in Montgomery County with his wife, Leigh Jackson. They have two sons.
See also
External links
- Official campaign website
- McCord on Facebook
- Pennsylvania Treasury
- Rob McCord's biography on Project Vote Smart
- Campaign contributions: 2012, 2010, 2008
Footnotes
- ↑ Philadelphia Inquirer, "Election Results 2012," accessed November 7, 2012
- ↑ The Washington Post, "Pennsylvania state treasurer quits, will plead guilty to campaign finance charges," January 30, 2015
- ↑ 3.0 3.1 Philly.com, "State Treasurer joins race for governor," September 24, 2013
- ↑ 4.0 4.1 Pennsylvania Treasury Profile 2011, Provided to staff by the treasury office, communication received June 6, 2011
- ↑ Pennsylvania Treasury, "About," June 1, 2011
- ↑ Allentown Morning Call, "Corbett: No plans to end 'tradition' of Pa. governors serving two terms," November 12, 2012
- ↑ Philly.com, "State Treasurer Rob McCord launches PAC for governor's race," June 11, 2013
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ PoliticsPA, "Teamsters Union Backs McCord," September 26, 2013
- ↑ Politics PA, "AFSCME Endorses McCord," November 1, 2013
- ↑ Philadelphia Inquirer, "Election Results 2012," accessed November 7, 2012
- ↑ Pennsylvania Department of State, "2008 General Election - State Treasurer," accessed February 14, 2012
- ↑ Pennsylvania Department Of State, "2008 General Primary," accessed February 14, 2012
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Succeeded by Christopher Craig |
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